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EURO and GBP opened high for week beginning

Posted on April 6, 2009 at 5:21 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP firmed up towards close on friday for week end.But many were losing patience that they may not rise more.

Today EURO and GBP opened higher to give the surprise.They are expected to swing near high towards close of Japanese session and slide during European session.After again swings towards close of European session they are expected to slide during US session start.From mid US session they are expected to firm up again.Good drops are buy opportunities.

Week beginning false drop move is expected before the next big rise in EURO and GBP.

Regards

Dr.Sivaraman

27 Responses to “EURO and GBP opened high for week beginning”

on 06 Apr 2009 at 8:07 am1Shiv

DOc:

What about USD/JPY? Any chance it will also go below 100 today? Thanks
on 06 Apr 2009 at 8:15 am2Dr. S. Sivaraman

Dear Shiv
USd/YEN is expected to swing near high 101 area and rise further up tomorrow.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 8:47 am3jason

Hi Dr

Thank you for your comments.

Where do you think the GBP will pull back to before firming up again ?

Any chance for it to go back near 1.48 today ?

cheers
jason
on 06 Apr 2009 at 9:00 am4Dr. S. Sivaraman

Dear jason
They are expected to go near 1.48 area and then rise again
Regards
Dr.Sivaraman
on 06 Apr 2009 at 9:07 am5jacob

Hi

I’m in a eur/jpy short from 13630, any suggestions to exit trade. Thanks
on 06 Apr 2009 at 9:42 am6Dr. S. Sivaraman

Dear jacob
Crosses are known to make one sided moves.Currently EURO/YEN is making less drop and more rise moves.next drop could be seen today US session.Try to watch the levels and exit.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 10:50 am7saud

i’m in long for gbp/usd, gbp/jpy and eur/jpy
it seems to keep droping for now, i’m abit worried,
what do you suggest Doc?
on 06 Apr 2009 at 11:17 am8Dr. S. Sivaraman

Dear Saud
if you are doing position trade then wait for tomorrow rise or book profit today before US session and buy again during US session drop to book profit tomorrow.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 12:07 pm9jason

Hi Dr

So you still hold the view that gbp will come down to 1.48 ?

But it is rising now again to 1.4940. Will it come back down again in the us session ?

cheers
jason
on 06 Apr 2009 at 1:22 pm10Dr. S. Sivaraman

dear jason
Now you can understand whether possible or not.What appears in the market is not always true.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 1:27 pm11jason

Hi Dr

Well done.

Its a great gbp call and its now doing @ 1.4840.

Do you think that we can buy back here and turn long ?

Will it attempt 1.50 tomorrow ?

cheers
jason
on 06 Apr 2009 at 2:13 pm12Dr. S. Sivaraman

dear jason
Yes
regards
Dr.sivaraman
on 06 Apr 2009 at 2:21 pm13saad

hi Dr.sivaraman

really good work for gbp/usd…

since yesterday im short at 148.12…..im thinking to closed this trade….

any idea for EUR/GBP bcoz im long on it thankss

saad
on 06 Apr 2009 at 2:35 pm14Dr. S. Sivaraman

Dear saad
Watch during this US session till 16;30 GMT and try to close both.use your other analysis also to take decision as how you decided to short.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 2:59 pm15vinesh

Doc do you think we might need a retrace down to low 100’s to scoop up some buyers
on 06 Apr 2009 at 3:05 pm16vinesh

DOC how far do u think eu is going seems to have broken thru 1.344 and 1.34 support levels
on 06 Apr 2009 at 3:17 pm17jason

Hi Dr

Can I know what you think of the gbp and eur now ?

Both of them seems to be dropping quite fast.
Do you think its a good time to buy ?

DO you think its a trend change or is it just a pull back before going higher later or tomorrow ?

cheers
jason
on 06 Apr 2009 at 3:56 pm18jason

Hi Dr

Like to hear your views again based on the price action for the past hour.

Do you still hold the view that the majors (Eur & Gbp) will rise back up during mid us session ?

In fact, we are near the mid us session now. So what could be the trigger for the rise of the majors ?

cheers
jason
on 06 Apr 2009 at 4:20 pm19Dr. S. Sivaraman

Dear vinesh
Players are making the drop deep to induce long liquidation when traders turned long freely at higher levels.the players are dropping and buying now,but traders are expected to view it as bearish move in the market.We willknow the truth tomorrow from mid European session.
USD/YEN if the traders have done short covering and turned long then a downward stop hunt before the next rise could be seen.We only look at levels and change the sentiments,but the players only look at the stops of the traders- higher level buy orders or lower level sell orders.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 4:23 pm20Dr. S. Sivaraman

Dear jason
I am expecting the firming up moves from mid session and then rise towards close.then upward gap opening tomorrow,very similar to what they have done friday close and today opening.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 4:30 pm21jason

Hi Dr

Thank you for your reply.

ONe question though.

THe gbp and eur is looking so soft now and its mid session now.
I do believe and have faith in your views as you have been more than often right.

However, I am really curious as to how the eur and gbp and firm up and the rise towards close and then gap up tomorrow.

How is it going to happen ? But I do hope you are right.

Appreciate if you can further explain your views.
Thanks

cheers
jason
on 06 Apr 2009 at 4:55 pm22Dr. S. Sivaraman

dear jason
first stop cutting the new low for 30 min,then pip by pip rise with small price action og 5-7 pips,then rise like, 25 pips rise and dip of 15 pips for some time,then slow gaining of levels without much swings.There are the moves they make in the market during reversal time- so that the traders taken long positions at the lowest level also try to book profit,some use trailing stops,the 15 pips swing could close and buy them.then the traders look for next trend line resistance and short and they players rise quickly with a gap - the stops may not be filled at the placed levels,platforms fill them at much higher level and say the market gapped.
every time the reversals have similar stories.
Regards
Dr.Sivaraman
on 06 Apr 2009 at 4:59 pm23jason

Hi Dr

Thank you for your explanation.

Appreciate it.

Anyway the GBP and EUR are rising slowly now and have left off their lows. Do you think this is the begining of the firming up moves you have mentioned ?

By the way, do you see GBP and EUR making new highs this week ?

cheers
jason
on 06 Apr 2009 at 5:25 pm24Raja

Dear Doc,

Can you please give your comments on EURUSR pair. Are they going to trend up soon?

Regards
Raja
on 06 Apr 2009 at 5:35 pm25Suzan

Hi Dr.
This is my first time of reading your analysis. What an incredible insight you have about the market!!. unfortunately I I’m reading after hour. What time do you post new report.
Thanks for enlightening novice like me.
Suzan
on 06 Apr 2009 at 5:48 pm26ejthekkan

Dr., Do you have any opinion about Gold?
on 07 Apr 2009 at 9:26 am27Dr. S. Sivaraman

dear suzan
the time of posting the reports are given in the posting- around 5-6 GMT before start of European session.Then the reply to questions are given as and when time permits.
Regards
Dr.sivaraman

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